Siemens to cut 1,100 jobs in energy sector in continued cost-cutting bid

BERLIN -- Industrial conglomerate Siemens AG says it will cut about 1,100 jobs in its energy division in Germany over the next two years amid a wider cost-cutting effort.

Siemens said Thursday the cuts will primarily affect its fossil power and the oil and gas services units which are experiencing sluggish demand. The phasing-out of its nuclear power division also plays a role.